888 and Betway receive sports betting licenses in Virginia

Both 888 and Betway are the latest sports betting operators to have received a license for sports betting in the state of Virginia.

This comes after the Virginia Lottery approved PointsBet’s Virginia license earlier this month.

Two new operators approved in Virginia

The Virginia Lottery, which oversees sports betting in the state of Virginia, posted approvals for Digital Gaming Corporation VA as of last Wednesday and VHL, VA as of Thursday.

Digital Gaming Corporation is the corporate name for the Super Group-owned operator Betway. The sports betting brand is currently live in five US states including Iowa, Indiana, Colorado, New Jersey, and Pennsylvania.

According to Virginia’s State Corporation Commission Clerk’s Information System, VHL, VA’s principal office address is the same address listed by 888 Holdings in Gibraltar.

With the two approvals, there are now just two unannounced mobile-only licenses left in the state of Virginia. 

PointsBet, which is working with Colonial Downs, was the first operator to win one of the five licenses earlier this month.

Which operators are live in Virginia?

At the time of writing, there are 10 online sportsbooks currently live in the state of Virginia.

The first five sportsbooks launched back in January when the state’s betting market went live in January 2021 with the launch of FanDuel. 

In January, DraftKings, BetMGM, BetRivers, and Caesars also launched their sports betting products in the state.

WynnBet went on to launch its sportsbook in Virginia in March, followed by Unibet in April and Barstool Sportsbook in August.

Golden Nugget launched in October and Bally’s launched its Bally Bet app last week Wednesday.

It is not yet clear when PointsBet, Betway, and 888 will launch their sportsbooks in the state.

Sports betting in Virginia

Sports betting in Virginia became legal in April 2020, when the state legislature approved two sports betting bills, authorizing online sports betting. Under state law, up to 12 sports betting licenses are up for grabs.

Virginia’s betting market went live in January 2021 with the launch of FanDuel through a partnership with the Washington Football Team.

According to the latest figures from the Virginia Lottery, which cover the month of September, bettors in the state wagered $293.9m on sporting events.

Sportsbooks in the state held on to $30.9m in revenue and paid $1.6m in taxes to the state.

September’s handle marks a significant increase on the $182.4m wagered in August and also represents the second-highest handle figure since the state’s betting market went live in January this year. Meanwhile, revenue in September managed to outpace the previous revenue record of $26.6m that was set back in March.

In September, operators spent $17.4m on promotional credits and bonuses. This marks the state’s highest promotional spend in a single month since the market went live. September also marked the third month in which operators in Virginia spent more than $10m on promotional credits.

A total of $74.2m has been spent on promotional credits since the market went live.